Announcement
PPC S.A. announces that, following the outcome of the first auction of lignite and hydro generation, it is evident that the Company suffers a loss by the implementation of the so called NOME, given that the average price of the auctioned energy is clearly below its generation cost and close to the starting price.
The fact that, with a starting price of 37.37 €/MWh the highest bid was 37.50 €/MWh, raises concerns regarding the existence of actual competition.
The Company reserves its right to safeguard its interests.
Athens, October 26, 2016